Turnover ₹ 50 Lakhs
Book Profit ₹ 1 Lakhs
Whether he has to audit his accounts or can show his income u/s 44ad i.e. 8% of Turnover
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44AD Income
Replies (3)
If gross total income does not exceed basic exemption limit, then tax audit not required.
But if he files Income Tax Return then what profit he will disclose Actual Profit or Profit u/s 44AD
Actual Profit.
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